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Australia's second-quarter inflation drops to lowest since March 2021, supporting case for rate cut
Australia’s headline inflation rate in the second quarter of the year slipped to its lowest point since March 2021, coming in at 2.1% year over year, compared to 2.4% in the preceding period. This was lower than the 2.2% expected by economists polled by Reuters, and is almost touching the lower band of the 2%-3% target set by the Reserve Bank of Australia. On July 24, RBA governor Michelle Bullock said in a speech that she expected headline inflation in the June quarter “to be in the lower half of our 2%–3% target range,” while explaining that it partly reflects the ongoing effect of temporary cost-of-living ... (full story)
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2Q GDP JUST OUT: 3%, WAY BETTER THAN EXPECTED! “Too Late” MUST NOW LOWER THE RATE. No Inflation! Let people buy, and refinance, their homes!
